Mark Cuban, who is closely followed by crypto money investors, made statements about Dogecoin this time.
In his last tweet, billionaire Mark Cuban pointed out the potential of Dogecoin as a viable currency model:
“Teat coins like DOGE only work if they benefit and users use them for this utility.”
Cuban’s NBA team Dallas Mavericks began accepting Dogecoin in early March, which led to widespread adoption. Since then, many large companies, including the online electronics store Newegg, have started accepting cryptocurrency as a payment method, and this has had a very positive impact on the cryptocurrency market.
Although everything looks good, Dogecoinhas an inflation problem that makes people nervous due to its unlimited supply. But on this issue, Cuban makes the following statements:
“Any entity with inflation by definition is infinite, but that doesn’t reduce it. The utility converts from a store of value to potentially a digital currency. ”
Although it has billionaire businessmen and entrepreneurs like Elon Musk behind it, there are quite a lot of people who think that Dogecoin is a bubble, and this puts other investors in an uneasy and absent mood.
Dogecoin (DOGE) was trading at $ 0.390, according to CoinMarketCap data since the writing of our news.